Credit squeeze hits Eurozone borrowing

Borrowing by eurozone businesses and consumers is being hit severely as the global economic outlook darkens, according to a European Central Bank survey released on the 18 January 2008 that could act as an additional deterrent to further rises in official interest rates.

ECB: Press Release, 18.1.08: Results of the January 2008 bank lending survey for the euro area http://www.ecb.int/press/pr/date/2008/html/pr080118.en.html

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